Web3 development has hit a roadblock. The ideas that have driven the current crypto wave—L2s, DeFi, RWAs, gaming, and prediction markets—originated in the previous cycle. We are not progressing, we are not innovating—we are stagnant.
The web3 development community, while historic in its contributions, is extremely small—roughly 22,000 developers, which is less than 0.1% of the estimated 27 million developers worldwide. In order to onboard the next billion users, we must first onboard the first million developers. To achieve this, we need to empower developers by recognizing them not just as builders, but as creatives. We should embrace AI development tools and foster a culture of collaboration among developers.
During his keynote speech at Token2049 in Singapore, Ethereum co-founder Vitalik Buterin outlined his vision for the future of blockchain technology. He emphasized the importance of completing the construction of durable digital structures within the blockchain ecosystem, making crypto more efficient, affordable, and user-friendly, while preserving the aspirational qualities that set blockchain technology apart from traditional finance.
Despite this inspiring vision, the question remains: who will carry out this work and generate the ideas needed to realize this vision? As the saying goes in the web3 community, “Devs, do something!”
However, the reality is that the number of blockchain developers has actually decreased in recent years, with a significant drop in newcomers and a decrease in Bitcoin developers. It is clear that we need to reverse this trend and attract more developers to the web3 space.
Instead of simply urging developers to take action, we should focus on supporting them in their creative endeavors. Developers are innovators, and innovation is inherently creative. We must provide developers with the tools and resources they need to explore new ideas and build groundbreaking projects.
Artificial intelligence is playing an increasingly important role in coding, and we should embrace this technology as a tool to enhance developers’ capabilities. AI can help streamline the development process, accelerate learning curves, and assist with complex tasks such as smart contract audits.
For example, Cookbook offers ChefGPT, an AI chatbot that helps developers generate ideas, troubleshoot problems, and access smart contract templates. By leveraging AI technology, developers can plan, build, and deploy projects more efficiently on the blockchain.
In addition to AI tools, developer collaboration is crucial for driving innovation in the web3 space. While the web3 community is often fragmented and competitive, we must strive to foster a more collaborative environment. By encouraging communication and cooperation among developers, we can spark new ideas and drive progress in the industry.
Creating shared workspaces and organizing in-person meetings can facilitate these collaborations and help developers connect on a deeper level. By coming together to brainstorm and design the future of web3, we can reignite the momentum that has been lost in recent years.
In conclusion, web3 has made significant strides in revolutionizing the digital landscape, but in order to continue evolving, we must prioritize the needs of developers. By empowering developers, embracing AI technology, and fostering a culture of collaboration, we can unlock the full potential of web3 and create a more innovative and inclusive future for blockchain technology.